Supporting women entrepreneurs
Coca-Cola Beverages Pakistan Limited (CCBPL) and KASHF Foundation have signed a Memorandum of Understanding for the Women Entrepreneurship Programme. According to the MoU, CCBPL will provide KASHF Foundation with a grant of Rs 2.5 million to support this programme.
The MoU was signed by Zohair Mahmood, External Affairs Director, CCBPL and Roshaneh Zafar, Director KASHF Foundation. The focus of the grant is Karachi and through Coca-Cola’s support KASHF Foundation will fund 34 female led businesses in the areas of Korangi and Landhi.
The grant will fulfill funding requirements for KASHF Foundation’s business loans to around 100 low-income female entrepreneurs, through 5 branches. As such, KASHF Foundation will help around 100 female entrepreneurs to expand their businesses and increase their incomes.
Roshaneh Zafar said, “We have developed a unique lending model which targets women from low income communities along with providing them ongoing support through financial education and other training opportunities and CCBPL’s co-operation in this regard is highly appreciated and will assist us in our cause.”
Zohair Mahmood said, “Pakistan, like other developing countries suffers from a high degree of financial exclusion, which overall has a significant correlation with the level of poverty and gender inequity. Hence, this year, CCBPL is interested to start a recurring relationship with KASHF Foundation on supporting women entrepreneurs on a yearly basis.” Other delegates present at the event were John Seward, Managing Director, CCBPL and Rizwan U. Khan General Manager, Coca-Cola Export Corporation.
CCBPL and KASHF Foundation were also in a grant relationship in 2011 whereby KASHF Foundation was given Rs. 1 million by Coca-Cola for funding female businesses and addressing training needs of KASHF clients. The KASHF Foundation was the first institution in Pakistan to demonstrate a sustainable microfinance model in the country and currently has a total disbursement of Rs. 17.3 billion to over 1 million female clients.